Global News Of Note: South Korea, Turkey Take Action Against Chinese Metals Imports

What happens abroad impacts MSCI members in North America. Here is the latest economic, trade, and other policy news of note for the last week:

• South Korea’s Ministry of Trade, Industry, and Energy has launched an investigation into the Chinese steel suppliers, including Shagang Group. The steel products in question, sheets about millimeters thick or more, are primarily used in shipbuilding. After a three-month preliminary review, the Korea Trade Commission either will close the case or proceed with a full-scale investigation that determines whether to impose anti-dumping tariffs on Chinese companies. The move comes after the United States, Canada, and the European Union have increased trade enforcement regarding underpriced steel products from Canada. Read more from The Korea Herald.
• According to Reuters, the government of Turkey will impose anti-dumping duties on hot rolled steel imports from China, Russia, India, and Japan. The penalties will affect nearly four million tons of product imports that are valued between $2 billion and $2.2 billion. Duties on Chinese imports will range from about 15 percent to 43.31 percent while the tariffs on imports from Russia, India, and Japan will range from around six to nine percent.